Patrick Horan and David Beckworth on *The Fate of FAIT* and the Future of the Fed’s Monetary Framework
Macro Musings with David Beckworth
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Nominal GDP Targeting
Carla Macromines: I hope the Fed will look back at this experience and see two big things. One, how do you deal with environments where you have inflation that's in part driven by negative supply shocks? And then secondly, to rely on forecast or nominal GDP not looking to review mirror. We agree the Fed tends to be small C conservative. They don't like to make dramatic changes unless really absolutely necessary. So again, that's an argument for solving it rather than scrapping it.
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